Conditions Favor A Pause in BTC Here

$BTC

Price action looks to be favoring at least a short term pause for $BTC here in my opinion. We can see the February sell-off saw RSI reach “oversold” conditions and price briefly moving below the 200 day moving average. The move up of late looks to be stalling out, with RSI never quite breaching “overbought” levels (arrow).

That’s not to say it can’t occur. But my hunch is that a move into overbought levels would probably coincide with $BTC breaking through the psychological $100K barrier once more. I’m booking some gains today and waiting for that to occur to move back in.